Renewcell announces plans to cut workforce by 25%
10/01/2024
Swedish pulpmaker Renewcell has revealed plans to restructure the company in the wake of a strategic review initiated by its board of directors in late November.
Changes are sought following lower-than-expected sales volumes of its Circulose ingredient brand. This led to Magnus Håkansson assuming the role of acting chief executive with immediate effect in October. The business said its restructuring would likely lead to the loss of “just over 30 persons”, a decrease of roughly 25%.
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